Based on Adobe, on-line gross sales hit $ 10.eight billion on Cyber Monday, the most important US e-commerce day of all time
An independent contractor from FedEx Corp. unloads parcels from a delivery truck on Monday, December 2, 2019, on Cyber Monday in New York (USA).
Michael Nagle | Bloomberg | Getty Images
According to Adobe Analytics data, customers went online on Monday and spent $ 10.8 billion. This set a record for the largest US Internet shopping day of all time.
Cyber Monday spending on Cyber Monday increased 15.1% year over year, according to Adobe, which analyzes website transactions from 80 of the top 100 US online retailers. That didn’t match Adobe’s original forecast of $ 12.7 billion. The company had revised its estimate for Cyber Monday downwards in the past few days.
Adobe has lowered its online sales forecast for the entire holiday season to $ 184 billion, up 30% year over year. Online sales were originally estimated at $ 189 billion.
This year shoppers started buying gifts earlier than ever as retailers handed out offers to avoid crowded stores during the coronavirus pandemic. With such a long shopping time on vacation, it is difficult to judge what that one day says about the entire season.
For many retailers, Cyber Monday plays a lesser role. Big box companies like Walmart and Target started their deals in mid-October on the occasion of Amazon Prime Day and plan to have more in the coming weeks. And on Black Friday – a one-day event typically centered around stores and malls – customers made a lot of their purchases on company websites rather than in person.
The move to online shopping has also lessened the importance of some of the typical metrics that companies, analysts, and investors watch: long lines and large crowds in stores on Black Friday.
“For the remainder of the holiday season, we expect record sales to continue and roadside pickups to pick up even more as customers avoid the crowds and potential shipping delays,” said Taylor Schreiner, director, Adobe Digital Insights.
On Cyber Monday, Adobe announced that the number of roadside pick-up orders had increased 30% year over year as shoppers sought ways to securely retrieve their same-day items purchased online.
Many people also used their smartphones for shopping as retailers have invested more in their mobile apps. 37 percent of Cyber Monday digital sales were made on mobile devices, Adobe said.
In the closing hours of Cyber Monday, from 7:00 p.m. to 11:00 p.m. Pacific Time, consumers spent $ 2.7 billion, which is 25% of daily sales.
Thanksgiving Day and Black Friday also set records for online purchases, according to Adobe. Online spending on Thanksgiving was up nearly 22% year over year to $ 5.1 billion. On Black Friday, online spending rose roughly the same percentage to a total of $ 9 billion.
As shoppers bought popular items like Hot Wheels, Lego sets, and Apple AirPods, Adobe found that many had made these purchases on their smartphones, and a growing number were doing their online purchases via roadside pick-up.